Parallel Finance
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Parallel Finance

Earn up to 10% extra bonus when you use Auction Loan to contribute to Manta

Manta is rewarding users with up to 10% extra as an early bird bonus.

There will be three ways to contribute to Manta crowdloan:

  1. Use Auction Loan product (up to 10% extra bonus)
  2. Use Polkadot.js with basic reward
  3. Use exchanges to contribute

Manta is rewarding up to 10% extra bonus to Parallel’s Auction Loan contributors

Manta, an incredible partner of Parallel, has announced they will be providing up to 10% extra early bird bonus to users who contribute from Parallel’s Auction Loan product.

Manta supporters who use Parallel’s Auction Loan product will receive up to a 10% additional bonus before the offical Polkadot.js crowdloan begins on Nov 11. Once the standard crowdloan starts, the bonus for Parallel Auction Loan will be a 5% additional bonus offered for the first 21 days. After 21 days, there will no longer be a bonus offer.

Parallel’s Auction Loan Product

Manta is an interoperable privacy layer for the Polkadot ecosystem.

Learn more about the Manta crowdloan:

Manta crowdloan campaign | Join Manta community

Receive additional reward + extra bonus + PARA reward + cDOT as liquidity when you contribute to Manta

Crowdloan participants will receive increased utilization of funds and the ability to attain higher returns with the recently launched Parallel Finance Auction Loan product.

Through Parallel’s Auction Loan, multi-layer rewards are offered to users and they will have the ability to contribute to any crowdloan on the platform.

The Auction Loan product features:

  1. Users can participate in any crowdloan projects through Parallel’s platform.

Users can gain higher returns through additional bonus rewards, by contributing to crowdloans through Parallel’s platform.

Example:

If users participate in the crowdloan through Parallel’s auction loan, they will get: 1 DOT = Project A’s basic reward + X% project A’s extra bonus + Y% Project A’s extra bonus + $PARA bonus

In comparison, participating in project A’s crowdloan through Polkadot.js, they will only earn: 1 DOT = Project A’ basic bonus

2. Gain access to early liquidity through the Auction Loan product, users are not held up by the 2-year DOT locked up period.

By participating in project A’s crowdloan through the Auction Loan product, users will get cDOT-A derivatives. These are liquid assets that can be traded on the AMM market or collateralized in the lending market when our parachain launches.

We recently announced new partnerships with projects who will be giving bonus rewards for Parallel’s Auction Loan product users.

Things you should know about cDOT

How does cDOT work?

When users contribute to the Auction Loan platform, we issue cDOT and it has utility.

cDOT is a native token on Parallel’s Auction Loan and it is redeemable for DOT at the end of the winning project’s parachain leasing period. The cDOT tokens will be issued after Parallel’s network launches and they will be named accordingly to the parachain platform (see a hypothetical example here):

Users are able to receive cDOT after Parallel’s parachain launches. The cDOT is immediately transferrable and can be used for different types of DeFi applications on Parallel’s platform.

The first use case of cDOT: adding to the money market.

By supplying cDOT to our money market, users are able to use it as collateral to borrow assets. Currently, we only support borrowing DOT assets.

The second use case is: trading cDOT in our AMM market.

For users that need early access to liquidity, they are able to sell for DOT and are not subject to the lock up period.

Parallel Money Market Product

With additional bonuses and cDOT as liquidity, Parallel wants to provide you a great two years journey with much higher capital efficiency and liquidity.

cDOT and pcDOT

As we all know, Manta is an interoperable privacy layer for the Polkadot ecosystem.

Manta can wrap cDOT to pcDOT as a privacy token, you can use pcDOT in Manta’s parachain to do liquidity mining, etc. We will publish more details in the future.Learn more about pcDOT: https://manta.network/

How Auction loan works

Check out this video made by our founder, Yubo Ruan, and how you can earn up to a 40% bonus:

Parallel Crowdloan

Join our Upcoming Crowdcast Event

Join Parallel Community:

Join Twitter | Discord | Telegram | Website | Auction loan | Money Market

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Parallel Finance

Parallel Finance

2.5K Followers

Decentralized lending, staking, and borrowing built on the Polkadot Ecosystem.